FOR IMMEDIATE RELEASE
Edmunds.com Forecasts April Auto Sales: Car-Buyers Shift to Smaller Cars and SUVs
SANTA MONICA, Calif. — April 28, 2008 — This month's new vehicle sales (including fleet sales) are expected to be 1.3 million units, a 2.2 percent decrease from April 2007 and a 3.7 percent increase from March 2008, according to Edmunds.com, the premier online resource for automotive information.
April 2008 had 26 selling days, two more than last April 2007. When adjusted for this difference, sales decreased 9.7 percent from April 2007. (The chart below sets forth other unadjusted and adjusted comparisons.)
|Change from April 2007 (Adjusted for more selling days)||Change from April 2007 (Unadjusted for more selling days)|
"It's clear that gas prices are weighing heavily on car-buyers' minds," observed Jesse Toprak, Executive Director of Industry Analysis for Edmunds.com. "We predict that this month, the segments with the most year-over-year growth will be compact SUVs and compact cars at 52 percent and eight percent, respectively, while the segments that are falling the hardest are large cars and midsize SUVs at 19 percent and 17 percent, respectively. It is likely that the large SUV market aren't losing as many buyers because those that remain in that segment actually need the functionality of a very large vehicle."
The combined monthly U.S. market share for Chrysler, Ford and General Motors (GM) domestic nameplates is estimated to be 49.8 percent in April 2008, down from 54.2 percent in April 2007 and up slightly from 49.5 percent in March 2008.
"Nissan is proving to be an interesting company to watch," commented Michelle Krebs, Senior Editor of Edmunds' AutoObserver.com. "For the second consecutive month, it has gained the most market share of any major brand. Altima, Murano, Sentra and Versa all are selling well despite the economy. That said, Nissan's anticipated double-digit year-over-year gains this month can be partially attributed to the fact that last April was the company's worst sales month in three years."
Edmunds.com predicts Chrysler will sell 160,000 units in April 2008, down 16.8 percent compared to April 2007 and down 3.1 percent from March 2008. This would result in a new car market share of 12.3 percent for Chrysler in April 2008, down from 14.5 percent in April 2007 and even at 12.3 percent in March 2008.
Edmunds.com predicts Ford will sell 206,000 units in April 2008, down 6.7 percent compared to April 2007 and down 7.3 percent from March 2008. This would result in a new car market share of 15.8 percent of new car sales in April 2008 for Ford, down from 16.6 percent in April 2007 and down from 16.4 percent in March 2008.
Edmunds.com predicts GM will sell 282,000 units in April 2008, down 8.5 percent compared to April 2007 and up 0.2 percent from March 2008. GM's market share is expected to be 21.7 percent of new vehicle sales in April 2008, down from 23.2 percent in April 2007 and up from 20.8 percent in March 2008.
Edmunds.com predicts Honda will sell 138,000 units in April 2008, up 9.3 percent from April 2007 and down 0.4 percent from March 2008. Honda's market share is expected to be 10.6 percent in April 2008, up from 9.5 percent in April 2007 and up slightly from 10.3 percent in March 2008.
Edmunds.com predicts Nissan will sell 88,000 units in April 2008, up 24.1 percent from April 2007 and down 17.5 percent from March 2008. Nissan's market share is expected to be 6.8 percent in April 2008, up from 5.3 percent in April 2007 and down from 7.9 percent in March 2008.
Edmunds.com predicts Toyota will sell 215,000 units in April 2008, up 2.1 percent from April 2007 and down 1.3 percent from March 2008. Toyota's market share is expected to be 16.5 percent in April 2008, up from 15.8 percent in April 2007 and up slightly from 16.1 percent in March 2008.
About Edmunds.com, Inc.
Edmunds.com, Inc. publishes three Web sites that empower, engage and educate automotive consumers and enthusiasts. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value® , is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in January 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in February 2006 and is an automotive social networking Web site and home to the oldest and most established automotive community. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.